Leadership Transition and New Beginnings

“If a window of opportunity appears, don’t pull down the shade,” Tom Peters.

Andy Schwab at the Grand Opening of Hangar6, RTP’s premier prototyping facility, in 2018.

We would expect no less of First Flight President Andrew Schwab, when a recent window of opportunity presented, to capitalize on his extensive entrepreneurial skills and experience to pursue an exciting new career adventure. So, it is bittersweet that we announce that Andy Schwab will be leaving First Flight at the end of 2019.

Andy is leaving First Flight to join Excelerate Health Ventures as a managing partner as it raises its second venture fund focused on emerging digital healthcare companies across the nation. While Andy is leaving First Flight, the good news is he is not leaving our community. He will continue to help early stage companies as he begins work at Excelerate Health Ventures.

Under Andy’s leadership, First Flight has become nationally recognized as an innovative leader in developing unique programs that meet the most basic needs of science-focused companies in the early stages of their commercialization and growth journeys. For the last decade, Andy has been a relentless catalyst to reimagine and rebrand First Flight from a general business incubator to the area’s premier High Science High Impact incubator, giving a “home” to life science companies that have special requirements and long runways.

The First Flight Board is indebted to Andy for his creativity inventing startup-centric programs, as well as, helping to grow the extensive network of stakeholders, companies, service providers and others in First Flight’s statewide innovation ecosystem.

Andy Schwab, President of First Flight, and Emil Runge, of First Flight, with BARDA representatives in 2018.

Andy’s accomplishments have been many – the ground-breaking LiftOff Program that has already brought $15.5M in non-dilutive funding to NC companies; Hangar6, the only advanced rapid prototyping facility - filling a gap in our ecosystem by providing a cost-effective means to develop new technologies; and so much more. During his tenure, First Flight has received national visibility by winning numerous federal grants, including winning a role as a U.S. Department of Health and Human Services healthcare security accelerator.

Andy‘s founding role in area angel funds and investment networks has benefitted the First Flight extended community as he generously shared his connections and insights with early stage companies and others in need of funding.

Mary Musacchia, Board Chair said, “We can list Andy’s contributions, which are many, but the greatest contribution he has made to First Flight and the start-up community is more personal. It is his advice, his time, his caring for small companies with the belief that many of them, with the right help, can succeed and grow into scalable and profitable businesses.

We thank Andy and we are grateful for all he has done. Just as First Flight has been transformed by Andy’s leadership and ingenuity, it will continue to build and evolve its role in the innovation ecosystem.”